Kenya’s mobile money sector added approximately two million new accounts in a single quarter, pushing total subscriptions to 53.4 million by March 2026, according to the Communications Authority of Kenya’s Q3 2025-2026 sector statistics report. The 3.9 percent quarterly growth further entrenches Kenya’s standing as the world’s most advanced mobile money market.
Safaricom’s Enduring Grip on the Market
Safaricom retained its commanding 89 percent share of all mobile money subscriptions in the quarter, a position built on the foundations of M-Pesa — the service it launched in 2007 that effectively created the global mobile money category. M-Pesa’s dominance is the product of deep ecosystem integration encompassing savings and credit products, insurance, merchant payments, government disbursement channels, and international remittance corridors.
The Agent Surge: 101,000 New Agents in One Quarter
The number of registered mobile money agents grew from 501,399 in December 2025 to 602,470 in March 2026 — an addition of more than 101,000 agents in just three months, representing approximately a 20 percent expansion in a single quarter. Mobile money agents are the physical infrastructure through which digital finance reaches every corner of Kenya’s 47 counties.
A Global Template With Local Challenges
Despite its global leadership position, Kenya’s mobile money market carries unresolved tensions. Transaction fees remain a persistent source of friction among consumer advocates. Cybersecurity risks are also growing in proportion to the platform’s scale and centrality.
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